I have a W-2 and 1099.
I maxxed out my 401k employee contribution via my W2 job. In this case, I am only able to contribute the employER contribution to my solo 401k. However, when I enter the calculated employer comtribution, my tax burden does not change. Shouldn't this contribution reduce my taxable income? Wouldnt this considered a business expense? is turbo tax faulty? Should I just enter this under business expense since that is what it is? Please help.
